Capital operation

Author: Mu Liuwei
Publisher:
Publish Date: 2005-05-01
Features: This book traces back the origins of capital operation in China and extends to its dual connotation. On the one hand, from a macro perspective, capital operation is an important way of social resource allocation under market economy conditions. Through the flow of resources at the capital level, it can achieve the goal of optimizing the structure of social resource allocation. On the other hand, from a micro perspective, capital operation is an operational approach that utilizes market rules to achieve capital appreciation and efficiency growth through skillful management of capital itself. Therefore, the subjects of capital operation should not only include enterprises but also the government. Especially for China, the contradiction between the special status of state-owned capital and its low efficiency of operation also determines that policies must involve capital operation for state-owned capital. Capital operation is an advanced means for enterprises to preserve and increase capital value. The main methods and means include mergers and acquisitions, investment and financing, and asset restructuring. The author closely ties the discussion to the actual situation of China, covering the following issues: the important role and significant impact of government capital operation, the models and core of capital operation, financing decisions, entity restructuring, investment banking, capital markets, and state regulation. The book is concise, easy to understand, closely linked to reality, and highly practical, making it suitable for scholars and practitioners to refer to and learn from.